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03 Mar 2026

Amazon acquires George Washington University campus for $427 million to fuel AI expansion

Amazon Data Services purchased George Washington University's Virginia Science and Technology campus for $427 million to build data center infrastructure. The acquisition in Ashburn, Virginia, supports Amazon's $35 billion investment plan through 2040 as tech companies commit at least $630 billion this year to meet surging artificial intelligence demands.

2 Sources

Intuit fights SaaSpocalypse with 40-year data moat while partnering with OpenAI and Anthropic

Intuit has lost over 40% of its market capitalization as investors fear AI agents could replace traditional SaaS tools like QuickBooks and TurboTax. CEO Sasan Goodarzi pushes back, arguing that 40 years of proprietary small business data and partnerships with OpenAI and Anthropic give the company a durable competitive advantage in regulated finance markets.

2 Sources

MyFitnessPal Acquires Cal AI, the Teen-Built AI Nutrition App That Hit $30M in Annual Revenue

MyFitnessPal has acquired Cal AI, the AI-powered calorie counting app built by two high school students that scaled to over 15 million downloads and $30 million in annual revenue in under two years. The deal, which closed in December after nearly a year of negotiations, keeps Cal AI operating independently while integrating it with MyFitnessPal's massive nutrition database spanning 20 million foods.

2 Sources

Cursor surpasses $2 billion in annualized revenue as corporate demand for AI coding tools surges

The AI coding assistant Cursor has reached $2 billion in annualized revenue, doubling its revenue run rate in just three months. Corporate customers now account for 60% of revenue as the startup shifts focus from individual developers to enterprise clients. The milestone comes amid growing competition from Anthropic's Claude Code and questions about whether AI labs will eventually cannibalize their customers.

5 Sources

Amazon commits $21B to Spain for data centers and AI infrastructure in Europe's largest cloud bet

Amazon announced a $21 billion investment in Spain to expand its data center capacity and AI infrastructure, primarily in the Aragón region. This brings the company's total commitment to nearly €33.7 billion, making it one of Europe's largest cloud infrastructure investments. The expansion will create approximately 29,900 jobs and includes new server manufacturing facilities.

2 Sources

02 Mar 2026

AI forces skills reset across workforce as job security shifts from degrees to adaptability

AI is transforming hiring and work as nearly 65% of organizations adopt AI in recruitment processes. Workers face a skills reset where human judgment, adaptability, and AI literacy matter more than traditional credentials. Venture capitalist Bill Gurley warns that professionals in safe jobs who lack passion are most at risk from AI-driven job displacement.

6 Sources

MiniMax revenue growth hits 159% as China AI pioneer expands global footprint after Hong Kong IPO

Chinese artificial intelligence startup MiniMax reported a 159% surge in revenue to $79 million in its first earnings since raising $614 million in its Hong Kong IPO. The company, valued at $30 billion, is positioning itself as a global AI platform with multimodal capabilities, though it faces mounting losses and increasing scrutiny as it expands internationally.

4 Sources

Nvidia invests $4 billion in photonics firms to secure supply chain for next-generation AI

Nvidia has committed $4 billion across two photonics manufacturers, Lumentum and Coherent, in a strategic move to secure advanced optical technologies for AI infrastructure. The investment includes multibillion-dollar purchase commitments and capacity rights for laser components that enable light-based data transfer in AI data centers, addressing bandwidth limitations as AI workloads grow.

10 Sources

J. Safra Sarasin's Saxo Bank acquisition signals tech investment shift in AI wealth management era

J. Safra Sarasin completed a 1.1 billion euro purchase of a 70% stake in Saxo Bank, prioritizing technology architecture over traditional client base expansion. The deal reflects wealth managers' strategic pivot toward frontier technology investments as AI tools threaten to reshape financial advice delivery and force banks to rethink their acquisition strategies.

2 Sources

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